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Question
How will the following appear in the final accounts of Karaikudi sports club for the year ending 31st March, 2019?
| Particulars | ₹ |
| Tournament fund on 1st April 2018 | 90,000 |
| Tournament fund investment on 1st April 2018 | 90,000 |
| Interest received on tournament fund investment | 9,000 |
| Donation to tournament fund | 10,000 |
| Tournament expenses | 60,000 |
Solution
Balance Sheet as on 31.03.19
| Liabilities | ₹ | ₹ | Assets | ₹ |
| Opening Tournament Fund | 90,000 | Tournament Fund Investment | 90,000 | |
| (+) Interest Received | 9,000 | |||
| 99,000 | ||||
| (+) Donation to Fund | 10,000 | |||
| 1,09,000 | ||||
| (−) Expenses incurred | 60,000 | 49,000 |
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